Brazilian Arezzo made two important announcements for its strategy of expanding product offerings and brand portfolio on Wednesday (14): the purchase of the company My Shoes, a women’s footwear and handbags brand of more affordable values that has been inactive for the past three years; and a partnership with Mercado Libre for advertising, marketing and distribution of the products of the newly acquired brand.
According to the statement released by Arezzo, the acquisition of My Shoes will expand the company’s presence in the market aimed at B- and C+ class audiences, which today represent 44% of the Brazilian market.
Arezzo also informed that the deal, whose value was not disclosed, was signed after research with consumers and shopkeepers that indicated that the market lacks a brand with more accessible prices and fashion design. Although inactive for three years, My Shoes is still considered a strong brand in the market and has thousands of followers on social networks.
Agreement with Mercado Libre provides that the site will promote and sell My Shoes products. In addition, the platform will have an exclusive online store for the My Shoes brand.
“The acquisition of the MyShoes brand and the partnership with Mercado Libre are consistent with the strategy of complementing Arezzo&Co‘s businesses in the fashion, retail and apparel sectors, expanding its addressable market, its product offering and its brand portfolio, to consolidate the Company as a house of brands,” said the statement.